Developer ML7 Brings Two Residential Tribeca Lofts to Market in First NYC Project

Douglas Elliman Real Estate, the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide, announced today that it has launched sales for 112 Duane / 72 Reade, two 4,000-square-foot residential Tribeca lofts. This marks developer ML7’s first foray into New York City development. Architect Nicole Robertson of GRO Architects has converted commercial space in these landmarked “cast iron” buildings into sprawling residential lofts with interior design by Darci Hether Design. Andreas Mann and Brad Miles of the Andreas Mann Team at Douglas Elliman are exclusively marketing the properties. 112Duane.com

Offering a clean, modern aesthetic with a tony downtown vibe, the two modern lofts have 12.5-foot ceilings, 9.5-foot windows, 5” plank wood flooring, and original cast iron feature columns from 1856. Top-of-the-line Meile appliances adorn the kitchen, including two dishwashers, washer and dryer, and a 102-bottle wine refrigerator. Elegant Kohler Purist® bathroom fixtures compliment the Natural Stone from Artistic Tile. Each loft has a private keyed elevator entrance and private terrace.

“The superb execution of these new residential spaces is reflected in the high standards and quality used throughout the entire project, from inside the walls to the fixtures and finishes,” said Andreas Mann of Douglas Elliman. “The lengths ML7 has gone to conceive and build two superior products for a competitive price in one of New York City’s great neighborhoods has us excited to be selling these homes.”

Prices for the lofts are $7.5M for 112 Duane Street and $7.925M for 72 Reade Street, starting at below $2,000 per square foot.

“It was important to us to maintain the architectural integrity of the building and the homes as reflected in this historic neighborhood,” said Jeffrey Siegel, ML7’s President. “We are pleased to deliver a luxurious high-end product worthy of Tribeca.”

ML7, known for their work in the Princeton, New Jersey commercial market, purchased what was the existing commercial space at112 Duane / 72 Reade in 2015, converting the second floor space into these two new condo lofts. ML7’s first residential project in New York City, the lofts will be folded into the existing condominium at 112 Duane Street. Childcare chain Kiddie Academy, leased 13,500 square feet of the building’s commercial space in 2015.

About ML7

ML7 is a family of private real estate investment, development, management and construction companies with offices in Princeton, New Jersey and New York City. ML7 purchases, redevelops, repositions and manages commercial real estate assets throughout New Jersey and New York City. ML7’s primary focus is to acquire architecturally significant properties and to restore them to exacting standards. ML7 also owns ML7 Construction & Design, a premier general construction and construction management firm.

About Douglas Elliman Real Estate

Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide. With more than 7,000 agents, the company operates approximately 113 offices in New York City, Long Island, The Hamptons, Westchester, Connecticut, New Jersey, Florida, California, Colorado and Massachusetts. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 60 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing; Douglas Elliman Property Management and Douglas Elliman Commercial. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit elliman.com.